; Carbon Nanomaterials Market size, share, trend 2034.

Carbon Nanomaterials Market

Carbon Nanomaterials Market Size, Share, and Analysis, By Product Type (Carbon nanotubes, Graphene, Carbon Nanofibers, Fullerenes, and Others), By Method (Arc Discharge, Laser Ablation, Chemical Vapor Deposition, Catalyzed Chemical Vapor Deposition, and Others), By Application (Automotive, Packaging, Semiconductor & Electronics, Aviation, Healthcare, and Others), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034

Published on: Jan-2024
Report Code: FG CHM 01829
No. of Pages: 170-350
Report Format: PDF

Carbon Nanomaterials Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 23.6% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 3.7 billion and is projected to reach USD 38 billion by the completion of 2034.

Product Overview

Carbon nanomaterials are composed of carbon atoms organized in unique nanoscale structures that exhibit exceptional physical and chemical properties. These materials are distributed among various types such as carbon nanotubes (CNTs), graphene, and fullerenes. Carbon nanotubes or CNTs are cylindrical structures with excellent strength and electrical conductivity. Graphene is a single layer of carbon atoms organized in a hexagonal structure that possess similar properties to CNTs. Fullerenes, which include buckyballs and buckytubes, have spherical or tubular shapes and offer distinct properties due to their nanoscale dimensions. Moreover, nanomaterials demonstrate high surface area, thermal conductivity, and electron mobility, which makes them promising candidates for improvements in electronics, medicine, and energy-based applications.

Market Highlights

Carbon Nanomaterials Market is projected to grow at a compound annual growth rate (CAGR) of 23.6% from 2024 to 2034

Carbon Nanomaterials Market is expected to reach USD 38 billion over the forecast period, driven by their distinct characteristics and adaptable applications across various industries. Carbon nanomaterials, including carbon nanotubes (CNTs), graphene, and fullerenes, serve vital functions across various applications like electronics, aerospace, energy, and healthcare. For instance, the electronics industry benefits from the superior conductivity and strength of CNTs and graphene. Additionally, in the aerospace sector, these nanomaterials contribute in providing lightweight and durable structural solutions. Carbon nanoparticles are further used in energy sector in the manufacturing of batteries, supercapacitors, and solar cells. Moreover, they are used in drug delivery systems and imaging technologies across healthcare. However, industrial scalability, along with cost limitations could be major barriers to the growth and require constant efforts to fully realize the potential of carbon nanomaterials.

Source: Fatpos Global

Carbon Nanomaterials Market Segmentation

Semiconductor & Electronics segment will lead due to wide application of CNTs

Based on Application, the Carbon Nanomaterials Market is segmented into Automotive, Packaging, Semiconductor & Electronics, Aviation, Healthcare, and Others. The dominance of the Semiconductor and Electronics segment in the market is driven by various significant factors. Carbon nanotubes (CNTs) play a significant role in this segment, with rising focus on research and the development of printable carbon nanotube inks. CNTs, when produced as transparent conductive films (TCF), emerge as a popular alternative for flexible displays and touch screens in electronics applications. They provide significant benefits such as excellent conductivity, transparency, and cost effectiveness. Additionally, despite previous cost issues, carbon nanotube prices have fallen in recent years, owing to chemical companies increasing manufacturing capacity. This reduction in cost makes carbon nanotubes more practical for various electronic applications, leading to its domination across carbon nanomaterials market.

Carbon Nanotubes segment will dominate owing to its distinct characteristics

By Product Type, Carbon Nanomaterials Market is divided into Carbon nanotubes, Graphene, Carbon Nanofibers, Fullerenes, and Others. The Carbon Nanotube (CNT) segment will likely maintain market leadership due to its superior electrical conductivity, heat conductivity, and mechanical strength, making them suitable for application in physical constructions and electrical devices. Their adaptability extends to various industries such as healthcare, optical devices, and electrical equipment, which adds to the segment's growth. CNTs serve an important part in various applications, such as conductive transparent electrodes, nano inks, thermal films, sensors, batteries, displays, and solar cells, which drives significant demand. Carbon nanotubes are the preferred choice among carbon nanomaterials due to their inherent features, reinforcing their market domination.

Source: Fatpos Global

Market Dynamics

Growth Drivers

Innovations in Technology to Create Development Prospects

Technological improvements is a central driving force behind the expansion of the carbon nanomaterials market. Continuous advancements in synthesis procedures, processing techniques, and functioning methods contribute to the greater efficiency and adaptability of carbon nanotubes, graphene, and other nanomaterials. Moreover, the improvement of manufacturing methods resulted in the creation of higher quality materials, expanding their use in electronics, healthcare, and other sectors. Furthermore, the market benefits from increased product quality and better operational efficiency with the continuous progress in technology. This promotes long-term growth and strengthens the status of carbon nanomaterials as a critical contributor to technological innovations across multiple industries.

Increasing R&D Funding will Provide New Opportunities for Growth

Increase in R&D investments in carbon nanomaterials is a significant driver of the carbon nanomaterial market's growth. Public and private sectors are allocating resources towards the study of new applications, improvement of manufacturing processes, and to resolve the challenges associated with nanomaterials. Additionally, robust research and development operations helps in the discovery of new uses and better manufacturing methods, which strengthens the market's growth potential. Besides, consistent funding encourages research, promotes collaborations, and places carbon nanomaterials at the forefront of scientific and technological innovations. This constant commitment ensures their long-term significance and supports market expansion.

Restraints

Issues with Scalability and Cost Could Be Restricting Industry Growth

While carbon nanoparticles have promising properties, their widespread implementation is hampered by production costs and scalability. The manufacturing expense of certain carbon nanomaterials, like carbon nanotubes, has prevented their adoption in large-scale commercial applications. Moreover, scalability limitations within production methods presents various challenges in addressing the rising demand of nanomaterial market. Overcoming these challenges are important for increasing commercial application of nanomaterials on a larger scale. There’s a need for joint efforts to develop cost-effective manufacturing technologies and scalable manufacturing methods to fully realizing the growth potential of carbon nanomaterials and enabling their smooth integration across multiple industries.

Recent Developments

  • CNRS announced a collaboration with Samsung Electronics to develop next-generation CNT-based transistors for high-performance computing. The company launched a research project focusing on scalable production of graphene from renewable biomass sources.
  • Samsung Electronics unveiled a prototype flexible display incorporating CNTs for enhanced durability and foldable applications. The firm also partnered with Nanox Technology to develop graphene-based electrode materials for lithium-ion batteries.
  • General Electric successfully tested CNT-reinforced composite materials for lightweight aircraft components. GE also acquired a start-up specializing in CNT sensors for aerospace and energy applications.
  • Nanox Technology launched mass production of its 3D-printed lithium-ion batteries featuring graphene electrodes for extended range and rapid charging. The company expanded its partnership with LG Chem to develop graphene-based battery materials for electric vehicles.

Carbon Nanomaterials Market

Key Players:

  • Arkema
  • CNRS
  • Raymor
  • OCSiAI
  • Nantero, Inc. 
  • Nanox Technology
  • Graphenea
  • XG Sciences, Inc. 
  • Mitsubishi Chemical Corporation
  • Bayer AG
  • Hyperion Metals LLC
  • Applied Nanotech, Inc. 
  • Nanoball Corporation
  • Temasek Polytechnic
  • CNR Rao Advanced Materials Division
  • Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Carbon Nanomaterials Market is segmented based on regional analysis into five key regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America's dominance in the carbon nanomaterials market is highlighted by its advanced research infrastructure and wide industrial applications. Leading universities in the region, such as MIT and Stanford, are leading the field of carbon nanomaterials research. Additionally, the endeavors of the US government, along with large private investment, creates an atmosphere which is favorable for research and development. Therefore, through sincere efforts in research, innovation, and collaboration, the North America region is distinguished by new innovations and practical applications, positioning the region as a leader in the carbon nanomaterials market.

Source: Fatpos Global

Impact of Covid-19 on Carbon Nanomaterials Market

COVID-19 pandemic had a substantial impact on the carbon nanomaterials market. Initially, disruptions in global supply chains and manufacturing procedures presented major challenges and resulted in delays and financial uncertainties. However, as the pandemic unfolded, certain sectors experienced increased demand for carbon nanomaterials in healthcare applications such as drug delivery systems and diagnostics. The pandemic stimulated research and development efforts in sectors which were crucial for pandemic response, such as healthcare and pharmaceuticals. Hence, changing demand patterns, supply chain issues, and shifting priorities of industries demonstrated the complex and evolving character of the pandemic.

Carbon Nanomaterials Market is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Carbon Nanomaterials Market Scope and Segments:

ATTRIBUTE

  DETAILS

Study Period

2018-2034

Base Year

2023

Forecast Period

2024-2034

Historical Period

2019-2022

Growth Rate

CAGR of 23.6% from 2024-2034

Unit

Value (USD Billion)

Segmentation

Main Segments List

By Product Type

  • Carbon nanotubes
  • Graphene
  • Carbon Nanofibers
  • Fullerenes
  • Others

By Method

  • Arc Discharge
  • Laser Ablation
  • Chemical Vapor Deposition
  • Catalyzed Chemical Vapor Deposition
  • Others

By Application

  • Automotive
  • Packaging
  • Semiconductor & Electronics
  • Aviation
  • Healthcare
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions (FAQ):

Carbon Nanomaterials Market size was values at USD 3.7 billion in 2023 and is projected to reach the value of USD 38 billion in 2034, exhibiting a CAGR of 23.6% during the forecast period.

The Carbon Nanomaterials Market involves the production and application of materials like carbon nanotubes and graphene, known for unique properties. It serves various industries, driven by ongoing research and technological advancements.

The Semiconductor & Electronics segment and the Carbon Nanotubes segment accounted for the largest Carbon Nanomaterials Market share.

Key players in the Carbon Nanomaterials Market include CNRS , Arkema, General Electric, Nanox Technology, Graphenea, Chengdu Graphene Technology Co., Ltd., XG Sciences, Inc., Mitsubishi Chemical Corporation, Bayer AG, Nantero, Inc., Hyperion Metals LLC, Applied Nanotech, Inc., Nanoball Corporation, Temasek Polytechnic, CNR Rao Advanced Materials Division, and Other Prominent Players.

Innovations in technology and increasing R&D funding are the factors driving the carbon nanomaterials market.

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